The Consumer Price Index (CPI) measures inflation through the change in prices that households pay for goods and services. The Reserve Bank of Australia targets a CPI inflation rate of 2-3 per cent. This note presents an overview and commentary on the most recent CPI data.
- 25 Mar 2026 CPI February 2026
The annual rate of CPI inflation ebbed by 0.1ppts to 3.7%, undershooting market expectations of no change.
- 25 Feb 2026 CPI January 2026
The annual rate of headline consumer price inflation remained at 3.8% in January, while trimmed mean inflation picked up by 0.1ppts to 3.4%.
- 28 Jan 2026 CPI December & Q4 2025
The headline CPI rose by 0.6% in Q4 2025, in line with market expectations, taking the annual rate of headline inflation to 3.6%.
- 07 Jan 2026 CPI November 2025
The all-groups unadjusted CPI was unchanged for the second month in a row in November, with the annual rate easing 0.4ppts to 3.4%. The seasonally adjusted CPI rose by 0.2% in the month following a 0.4% increase in October, to be up by 3.5% YoY.
- 26 Nov 2025 CPI October 2025
The inaugural monthly CPI report showed that the unadjusted headline CPI was unchanged in October, but the annual rate of consumer price inflation increased by 0.2ppts to 3.8%, against market expectations of no change.
- 29 Oct 2025 CPI September 2025
The headline CPI rose by 1.3% in Q3 2025, taking the annual rate of inflation 1.1ppts higher to 3.2%. This was an upside surprise to market participants who expected a rise of 1.1% QoQ and 3.0% YoY. The trimmed mean CPI, which is the RBA’s preferred underlying price gauge, rose by 1.0% QoQ and 3.0% YoY (mkt exp.: 0.8% QoQ and 2.7% YoY).